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Orion Closes New €1.3B European Fund

MADRID-The fund follows on the heels of its predecessors, which Orion will aim at an array of assets, loans, portfolios and real estate companies in Europe.

By Allan Saunderson | Updated on December 08, 2009

MADRID-Opportunity fund manager Orion Capital Managers has completed the final closing of capital raising for its Orion European Real Estate Fund III with total commitments of €1.28 billion, above its original target.

Orion Fund III is a direct follow-on to its previous two funds and allows Orion to invest in the full spectrum of real estate assets, loans, portfolios, or real estate companies across Europe. To date, the fund has acquired or committed to four transactions in France and Spain totalling over €300 million of equity. This included purchase of one of Spain’s largest malls, the 70,000 square meter Plenilunio Centre in Madrid for €235 million which it bought from Santander’s real estate fund.

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